Asia-Pacific Region Is Expected to be the Fastest Growing Enterprise Asset Management Market

The growing need of continuous monitoring in asset-intensive industries and organizations for wide range of technologies, physical and human assets has increased market penetration of asset management system in recent years. Asset-intensive industries uses asset management system for wide range of applications including repair machinery, inventory and production, hiring and scheduling process of employees, support for physical plants, and the maintenance of rolling assets. The asset management technologies are playing a crucial role for industrial output in cross-organizational operations which also minimizes the operational cost of organizations.

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The key drivers for enterprise asset management (EAM) market includes increasing asset utilization of the enterprise, their increasing need for reduction in operating costs, and safeguarding the supply chain availability and visibility. Enterprise asset management is also helpful in the industries with dynamic nature of work, such as audit compliance where the standards change over time and the upkeep of their records is important. The core module of the enterprise asset management is designed by the software companies; however, the peripheral jobs such as mobile solutions and reliability-center maintenance (RCM) are largely done through third parties. However, certain companies such as SAP SE are incorporating forward integration to provide its own peripheral service to obtain larger market share and increase profitability.

Based on software the global enterprise asset management market can be segmented as linear assets, non-linear assets, assets MRO, and field service management. Based on the services the global enterprise asset management market can be segmented as managed services, training and support, and implementation. On the basis of end-users, the global enterprise asset management market can be broadly segmented as oil & Gas, healthcare, government & utilities, manufacturing, transportation, and others. Based on the size of organization the global enterprise asset management market can be segmented as small and medium scale organization, and large scale organization.

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North America was the largest market of enterprise asset management market in 2014; the market leadership of North America is attributed to the wide adoption of enterprise asset management across small and medium sized enterprises. Asia-Pacific region is expected to be the fastest growing enterprise asset management market during the forecast period. Industrialization and need for increased manufacturing capacity in Asia Pacific market is expected to be a dominant driver for the enterprise asset management market in the region.

Some of the competitors in global the enterprise asset management market are Assetsworks, Real Asset Management, CGI Group, Infor, Schneider Electric, ABB Ltd., IFS AB, Oracle Corp., SAP SE, and IBM Corp.

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